But while both candidates may, for their own particular reasons, not want to bring up the slow motion trainwreck that is the US economy now, in 4 years whoever is running for president will not be so lucky, because as the US debt clock shows, assuming current rates of progression, things are about to get far, far worse.
This is how America will look like in 2016:
- Total US debt: $22.2 trillion (an increase of over $6 trillion from today)
- Total debt per US taxpayer: $180,000
- Debt to GDP: 130% (30% higher than today)
- Food stamp recipients: 50 million
- M2: $14.3 trillion (an increase of over $4 trillion from today)
- Total US Unfunded liabilities of $147 trillion (or $1.2 million per taxpayer)
- $950 trillion in currency and credit derivatives, margined courtesy of TBTF banks’ cash deposits (forget about the return of Glass-Steagall. Ever). That’s in the US alone, which means roughly $2 quadrillion worldwide.
Actually, if those numbers do pan out, there very well may not be a presidential election in 2016. So enjoy this one. It may be the last one for quite a while.